Profit warning at Aston Martin
Plus, strong demand for private jets, and Lookers expects record profit
Aston Martin Lagonda warned that underlying earnings will miss expectations after a shortfall in shipments of its Valkyrie supercar.
Just 10 Valkyrie and Valkyrie AMR Pro vehicles were shipped in the fourth quarter following “an extensive and challenging development and testing schedule,” Aston Martin said. Accordingly, adjusted ebitda will be around £15m lower than expected. The carmaker said it was solely a timing issue, however, as 2022 production was on schedule and all Valkyrie Coupes remained allocated to customers with significant deposits.
Aston said its recently-launched DBX model had taken a 20 per cent share of the luxury sport utility vehicle market with 3001 units shipped to wholesale markets in the first year of production. Lawrence Stroll, executive chair, stuck by a long-term pledge to hit £2bn of revenues and £500m of adjusted ebitda.